Market Size of Australia Recreational Vehicle Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | 7.00 % |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Australia Recreational Vehicle (RV) Market Analysis
The Australian recreational vehicle market is expected to registere a CAGR of over 7% during the forecast period.
The COVID-19 pandemic tremendously impacted the tourism industry across the country in 2020. Amid the pandemic situation, sales of recreational vehicles were derailed. However, post-pandemic, consumer interest in recreational activities witnessed an increase which in turn fueled the demand for recreational vehicles across the country.
Over the long term, The growing number of active campers is anticipated to contribute to the demand for RVs. The commercial usage of RVs is on the rise. Growth in peer-to-peer rental services is expected to increase popularity among millennials, which are increasingly seeking rental services. Furthermore, the increasing demand for road trips as a getaway from quarantine may boost market growth. The post-lockdown period is likely to witness a rise in the number of first-time buyers. Therefore, players are also coming up with new product launches in the country.
For instance, in April 2022, Hyundai forayed into the RV market with the 4- and 11-seat Staria camper vans. Hyundai's Staria Lounge Camper 4 comes fully equipped with two beds, indoor and outdoor dining areas, an indoor kitchen, and a smart home control touchscreen.
Furthermore, the availability of customization, from raw material selection to the list of components to be installed in the vehicle in terms of size and dimensions, makes it popular for consumers looking for RVs for personal or commercial use. The customization option made available through websites and mobile apps allows buyers to customize their vehicles from any location rather than having to visit the manufacturer's showroom each time. With the growing popularity of adventure camping in rural areas, people prefer to travel to the countryside, away from urbanized areas, to unwind from their hectic daily routine.
Australia Recreational Vehicle (RV) Industry Segmentation
Recreational vehicles (RVs) are most commonly used as temporary accommodations when traveling. However, some people use them as their main residence due to benefits, like easily towable units, low fuel consumption, lower maintenance and insurance costs, and depreciation value.
The Australia Recreational Vehicle Market is Segmented by Type (Towable RVs and Motorhomes), Towable RVs (Travel Trailers, Fifth-wheel Trailers, Folding Camp Trailers, and Truck Campers), Motorhomes (Type A, Type B, and Type C), and Application (Private and Commercial). The report offers the market size in value (USD Million) and forecasts for all the above segments.
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Australia Recreational Vehicle Market Size Summary
The Australian recreational vehicle market is experiencing significant growth, driven by a resurgence in consumer interest in outdoor activities and road trips following the COVID-19 pandemic. The market is characterized by an increasing number of active campers and a rise in commercial usage of RVs. The popularity of peer-to-peer rental services is also on the rise, particularly among millennials seeking flexible travel options. The demand for customization in RVs, facilitated by online platforms, is further enhancing consumer appeal. This trend is supported by the growing number of campgrounds and recreational parks, which cater to the increasing preference for adventure camping and rural travel. The market is also witnessing new product launches, such as Hyundai's entry with the Staria camper vans, which offer extensive features and customization options.
The competitive landscape of the Australian recreational vehicle market is marked by strategic mergers, acquisitions, and partnerships among key players aiming to expand their market share. Companies are investing in research and development to innovate lightweight materials that improve fuel efficiency and vehicle performance. The market's growth is further bolstered by the rising participation in leisure activities and the increase in international tourist arrivals, which contribute to the demand for RVs. Manufacturers are focusing on enhancing product features and expanding production facilities to meet the growing consumer demand. The market's dynamic nature is reflected in the ongoing efforts to adapt to changing consumer preferences and technological advancements.
Australia Recreational Vehicle Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 By Type
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2.1.1 Towable RVs
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2.1.1.1 Travel Trailers
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2.1.1.2 Fifth-wheel Trailers
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2.1.1.3 Folding Camp Trailers
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2.1.1.4 Truck Campers
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2.1.2 Motorhomes
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2.1.2.1 Type A
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2.1.2.2 Type B
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2.1.2.3 Type C
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2.2 By Application
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2.2.1 Private
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2.2.2 Commercial
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Australia Recreational Vehicle Market Size FAQs
What is the current Australia Recreational Vehicle Market size?
The Australia Recreational Vehicle Market is projected to register a CAGR of 7% during the forecast period (2024-2029)
Who are the key players in Australia Recreational Vehicle Market?
Jayco, Inc., Apollo Tourism & Leisure, Winnebago Industries, Sunliner Recreational Vehicles and Avida RV are the major companies operating in the Australia Recreational Vehicle Market.
